f Building New Business in the Energy Transition Using Upstream Capabilities and Assets

Many of the developed technical capabilities in Upstream can be directly transferred into developing new business opportunities in geothermal energy, E-hubs, CCS and energy storage. Also, Upstream assets are well suited to be re-deployed for generation of renewable energy. The outlook of scaling up projects provides an opportunity for business improvement through standardization and life-cycle development planning, areas where Shell has proven capabilities.